IBERIABANK Corporation (IBKC) Stock Rating Lowered by BidaskClub
IBERIABANK Corporation (NASDAQ:IBKC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.
IBKC has been the topic of several other reports. Hovde Group raised IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a report on Monday, June 5th. Zacks Investment Research cut IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. Barclays PLC raised IBERIABANK Corporation to an “outperform” rating and set a $97.00 target price on the stock in a report on Monday, May 1st. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the stock a “buy” rating in a report on Saturday, July 22nd. Finally, Robert W. Baird raised IBERIABANK Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $88.00 to $97.00 in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $86.92.
IBERIABANK Corporation (NASDAQ:IBKC) opened at 75.90 on Friday. The stock has a 50 day moving average price of $80.39 and a 200-day moving average price of $80.34. The stock has a market capitalization of $4.07 billion, a PE ratio of 18.49 and a beta of 1.28. IBERIABANK Corporation has a 12-month low of $62.65 and a 12-month high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by $0.02. The business had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. On average, equities analysts anticipate that IBERIABANK Corporation will post $4.75 earnings per share for the current fiscal year.
In related news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.12, for a total value of $492,016.92. Following the completion of the transaction, the insider now owns 60,553 shares in the company, valued at $4,851,506.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBKC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock valued at $150,000 after buying an additional 520 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in IBERIABANK Corporation during the second quarter valued at approximately $183,000. Nomura Holdings Inc. bought a new position in IBERIABANK Corporation during the second quarter valued at approximately $205,000. Karp Capital Management Corp bought a new position in IBERIABANK Corporation during the first quarter valued at approximately $214,000. Finally, Stephens Inc. AR bought a new position in IBERIABANK Corporation during the first quarter valued at approximately $214,000. Institutional investors own 86.06% of the company’s stock.
About IBERIABANK Corporation
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.
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